Jared Bernstein and Heather Marie Boushey

“ This morning’s jobs report reveals that the pace of job gains has slowed sharply in recent months as the pandemic continues to weigh on job creation, especially in face-to-face services. Strong relief is urgently and quickly needed to control the virus, get vaccine shots in arms, and finally launch a robust, equitable and racially inclusive recovery. ”

“ We know we are living through a K-shaped recovery, in which those at the top are continuing to thrive, while those at the bottom are struggling to make ends meet. We know that getting back to full employment, as quickly as possible, will make a major difference in the lives of tens of millions of people, particularly those most at risk of being left behind. ”

“ That bottom-up approach also makes sense top-down, looking at the economy as a whole and the challenges that yesterday’s CBO report laid bare: a labor market that is projected to recover too slowly and economic output that fails to get back to pre-pandemic expectations soon enough. ”

“ Relying on the usual tools and the usual approaches to determine how much government action we need is a recipe to ensure that we come out of this crisis weakened and that we do not take this opportunity to build back better. ”

“ The economy added 49,000 jobs in January after losing 227,000 jobs in December. The three-month trend is weak. After downward revisions to the data for both November and December totaling around 160,000, the economy has added an average of only 29,000 per month. ”

“ In addition, more than 15 million adults are behind on rental payments, nearly 24 million adults — and as many as 12 million children — are struggling with food insecurity, and more than 80 million adults are having trouble covering usual household expenses. The COVID-19 pandemic and related economic crisis have brought tens of millions of Americans to the brink of financial ruin through no fault of their own. ”

“ In designing the American Rescue Plan, President Biden tasked his team with building a bottom-up plan that provides resources for our highest priority needs: getting shots in arms, opening schools, and providing relief to the workers, families, and small businesses that need it most. ”